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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  SolTech Energy Sweden AB (publ)    SOLT   SE0005392537


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SolTech Energy Sweden : and PowerCell enter into a Nordic co-operation agreement

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09/08/2020 | 02:31am EDT

Soltech Energy Sweden AB (publ) and PowerCell Sweden AB (publ) have signed a Nordic co-operation agreement to develop solutions for customers that include both the Soltech Group's products and PowerCell's products. The first joint customer is Swede Energy's customer Amokabel AB in Alstermo, which has problems with the grid owner not being able to deliver more power from the electricity grid. The collaboration goes hand in hand with PowerCell's increased focus on its stationary systems, where Soltech is chosen as a partner in solar energy.

The purpose of the collaboration agreement is for Soltech and PowerCell to develop and participate in projects where the companies' technology and expertise in desktop applications are utilized. Soltech may integrate PowerCell products as part of Soltech's energy storage products and also has the right to market and sell such Soltech products in the Nordic countries.

Like many other growing companies, Amokabel has major problems with not gaining access to the power they need from the electricity grid to be able to grow the business. The company therefore needs to find alternative ways of securing the power supply for its operations that will be needed in the near future. Amokabel has now commissioned Soltech's subsidiary Swede Energy and PowerCell to investigate whether solar energy combined with fuel cells with hydrogen production and storage can be part of the solution. Parameters that are to be investigated include what a system solution can look like to meet both future power needs and how to use the system for power control and to provide the company with uninterrupted power. Amokabel has also ordered an 800kWp solar cell plant from Swede Energy, whose electricity production is intended to be used for hydrogen production, among other things.

Soltech's CEO Stefan Ölander comments:
“This collaboration agreement with PowerCell and the agreement with Amokabel is a major breakthrough to help all companies and the public sector with the major problem of power shortages in the network. The business opportunities are very large and we are happy and proud that PowerCell chooses our group as a partner ”.

PowerCell Sweden's sales director Andreas Bodén comments:
“The growing need for energy and, above all, sustainable energy, makes the combination of solar energy and fuel cells extremely interesting. We therefore see great opportunities for stationary power generation based on locally produced and stored hydrogen in combination with fuel cells. ”

© Modular Finance, source Nordic Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
POWERCELL SWEDEN AB (PUBL) -1.37% 245.4 Delayed Quote.61.35%
SOLTECH ENERGY SWEDEN AB (PUBL) -1.14% 20.76 End-of-day quote.9.73%
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Sales 2019 264 M 30,3 M 30,3 M
Net income 2019 -39,9 M -4,57 M -4,57 M
Net Debt 2019 756 M 86,7 M 86,7 M
P/E ratio 2019 -22,5x
Yield 2019 -
Capitalization 1 188 M 136 M 136 M
EV / Sales 2018 11,8x
EV / Sales 2019 6,77x
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Stefan Ölander Chief Executive Officer & Director
Anna Kinberg Batra Chairman
Mats Bertil Holmfeldt Chief Financial Officer
Frederic Telander Director
Göran Starkebo Director